FELTON, California, May 13, 2020
FELTON, California, May 13, 2020 /PRNewswire/ -- The global soy milk market was valued USD 11.08 Billion by 2025, according to Million Insights, registering a 6.1% CAGR over the forecasted period. The growing awareness on benefits of soy milk in dessert and beverage is anticipated to positively affect the global market. The availability of various flavors to enhance the taste of soy milk is projected to further drive the demand for this market among adults and children.
Application wise, the beverage segment held the highest market share, in 2018 due to the increasing usage of this product over traditional milk. Further, increasing consumption of soy milk in coffee, cereal, and tea is projected to further drive the demand of this market. The dessert segments registered highest grow with CAGR of more than 6% over the forecast period, 2019-2025.
The unflavored segment has accounted largest market share, in 2018 due to the increasing usage of unflavored milk for snacks and dessert. Many consumers prefer flavored soy milk to reduce the nutty taste of this product. Hence, market players are introducing a wide range of flavors with unique packaging to attract customers. Chocolate and vanilla are two popular flavors used in soy milk, which is estimated to propel the demand for this market.
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Due to the large scale production of soybean in Asia pacific countries such as India, China, Japan, the APAC region held the highest market share across the globe. China has a high consumption of soy milk in the total market. Moreover, North America is projected to grow with a significant growth rate of more than 6% during the forecast period. The increasing trend in avoiding non-dairy products is anticipated to further drive the demand for soy milk market.
Further key findings from the report suggest:
Browse 80 page research report with TOC on "Global Soy Milk Market" at: https://www.millioninsights.com/industry-reports/global-soy-milk-market
Million Insights has segmented the soy milk market on the basis of product type, application, and region:
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